Going cashless is becoming the norm for consumers. People are not carrying cash like they used to. And the evolution of mobile credit card processing technology means consumers have more choices when it comes to how they pay. So, what does that mean for small businesses, especially businesses on the go?
Mobile credit card readers are the perfect solution for on-the-go payments. You can accept both EMV and magstripe cards, while some readers also accept NFC apps like iOS’ Apple Pay for contactless payments. Whether you’re using a mobile card reader with your phone or a terminal, mobile readers for small businesses can streamline the entire payment process. Here are some factors to consider while looking for a mobile reader:
Is your point of sale mobile?
To utilize a mobile credit card reader, your point-of-sale (POS) system must be cloud-based and have a mobile application that can run on a tablet or smartphone. This allows the mobile card reader to sync transactions and inventory data in real-time.These days, there are many options for mobile POSs, but whether you’re completely functioning on iPads everywhere, a desktop POS in store, or an Android phone on the go, you’ll need a mobile device to use a mobile card reader.
Can you accept EMV and NFC?
A good mobile credit card reader should have the ability to accept both EMV chip cards and NFC credit card payments. This means in addition to a classic magstripe reader, the reader needs to have dip or tap functionality. Today, customers have more options when it comes to how they pay. Mobile wallet payments (like Apple Pay) are growing, but ensuring your reader accepts EMV chip cards (the security standard) and NFC (for tap-to-pay convenience) is crucial. Magstripe should only be used as a last resort. Mobile swipers like the SwipeSimple B350 connect via Bluetooth, so you can accept and manage payments from a mobile app. These readers are great if you often work outside of a typical brick-and-mortar store.
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Are mobile credit card readers reliable?
Mobile readers need to be secure and reliable. All businesses that handle cardholder data must be PCI compliant, and your mobile payments need to be compliant as well. Non-compliance can result in severe financial penalties, including fines ranging from $5,000 up to $100,000 a month (depending on size and duration of non-compliance) and potential suspension of processing privileges. If you use a mobile payment app with your mobile credit card reader, it must be PCI compliant. Stax uses tokenization and end-to-end encryption to reduce your PCI compliance scope and liability. Whether you key-in information via a virtual terminal or use a card reader, your data is secure and your business risk is minimized.
Can you connect over 5G and WiFi?
Poor connectivity and technical issues slow down check out and cause long lines. Connecting your reader multiple ways can be an insurance policy against those issues. The Dejavoo Z1 and Z9 are both wireless, so you can take them on the go and connect over WiFi or cellular (4G/LTE) to ensure reliable transaction processingThey’re a perfect payment processing solution for busy times of day at stores or if you have a pop-up stand event.
Are there extra features without extra costs?
Extra features on your mobile reader shouldn’t cost an arm and a leg while giving flexibility to how you do business. The Dejavoo Z1 reader can email customers their receipt, while the Dejavoo Z9 offers a built-in receipt printer. The Chipper mobile swipers connect via bluetooth for mobile payments. A good mobile reader should offer useful features to make mobile payments easier.
Choosing the best mobile credit card readers for small businesses boils down to capabilities and functionality. Along with those features, your credit card processor must support mobile payments. The best strategy is to partner with a processor (like Stax) that provides transparent pricing on the mobile hardware itself and bundles core software features (like digital receipts and reporting) at no extra charge within the subscription.
Some other considerations as you consider mobile card readers:
- What transaction fees, processing fees, or monthly fees does the merchant services provider you’re looking at charge?
- Does it work with Android devices or just Apple ones, like iPhone?
- Does it integrate with your ecommerce software?
Stax’s mobile payment processing solutions are fully integrated. Business owners can track, manage, and accept in-person and online payments from wherever you are. And as a Level 1 PCI compliant service provider, with the highest level of compliance available, you can be confident that your data is secure. Stax’s transparent pricing means you don’t pay a percentage markup on interchange—without a contract. You pay only the wholesale rate plus a low, fixed dollar amount per transaction. This provides a competitive cost structure for high-volume mobile sales, all backed by our expert support.
Also check out: Ways to save on credit card reader machines
Ready to see what Stax mobile solutions can do for you? Contact us today.
Quick FAQs about Mobile Credit Card Reader
Q: What are mobile credit card readers, and why are they essential for small businesses?
Mobile credit card readers are portable devices that allow small businesses to process card payments anywhere, enhancing convenience and flexibility. They enable businesses to go cashless, which is increasingly becoming the norm for consumers.
Q: What features should I look for in a mobile credit card reader?
Essential features include compatibility with EMV chip cards, NFC payments like Apple Pay and Google Pay, Bluetooth connectivity, and PCI compliance for security. Additional features like receipt printing or emailing can enhance customer service.
Q: How do mobile credit card readers ensure transaction security?
Mobile credit card readers ensure security through PCI compliance, which involves encryption and tokenization of cardholder data to prevent unauthorized access. Businesses must use PCI-compliant payment apps with their readers.
Q: Can mobile credit card readers connect over 5G and WiFi?
Yes, many mobile credit card readers offer connectivity over WiFi and 5G, ensuring stable and fast transactions even in areas with varying network coverage. This flexibility helps prevent delays and long lines during busy periods.
Q: Are there additional costs associated with mobile credit card readers?
While some mobile credit card readers may come with extra features, it’s important to choose ones that offer these without significant additional costs. Some providers offer transparent pricing models with no hidden fees.
Q: Do mobile credit card readers work with both Android and Apple devices?
Most mobile credit card readers are compatible with both Android and Apple devices. However, checking compatibility with your specific device and POS system is advisable before purchasing.
Q: How do mobile credit card readers integrate with ecommerce platforms?
Many mobile credit card readers can integrate seamlessly with popular ecommerce platforms like Shopify, allowing businesses to manage both online and in-person sales from a unified system.
Q: What are the typical transaction fees for using mobile credit card readers?
Transaction fees vary by provider, but they generally include a percentage of each transaction plus a fixed amount per transaction. It’s important to compare fees from different providers to find the most cost-effective option for your business.
